CITY DIARY: How House of Fraser's chain-smoking owner Yuan Yafei enjoys life's finer things, from handmade suits to Cuban cigars

House of Fraser's chain-smoking owner Yuan Yafei, whose department store looks destined for administration, enjoys life's finer things. Handmade suits, Cuban cigars. A lackey informs me he's also got a thing for fresh flowers and likes them to be in every room. On his first visit to House of Fraser's Oxford Street offices, an enterprising manager saved some money by buying two bouquets which were then revolved around to whichever room he visited.

Now dishevelled Ineos founder Sir Jim Ratcliffe is upping sticks to tax friendly Monaco, when's he going to pick up his knighthood? Sources close to Britain's wealthiest man are certain he hasn't collected it yet. Ratcliffe's conversation with the Queen or, as is more likely these days, Prince Charles, at his investiture could be interesting. Palace officials were distinctly unamused when Sir Mick Jagger delayed collecting his gong, purportedly to coincide with the tax-avoiding days he was allowed in the UK.

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Legal & General's increasingly messianic boss Nigel Wilson was taken to task by BBC business reporter Dominic O'Connell yesterday after the insurer's first-half results blamed an earnings dip on 'a reduction in positive investment variance'. Asked O'Connell: 'What does that mean in plain English?' Wilson: 'The results in our investments in the stock market are less than they were in the first half of last year.' O'Connell: 'Why don't you just say that then?' Wilson: 'It's the language of our industry.' A shocker isn't he?

Sophia Money-Coutts, scion of the Coutts banking dynasty, launched her debut novel The Plus One at Claridge's this week. She announced she wanted to apologise to her parents for the fruity sex scenes, which Jilly Cooper says made her feel 'like a nun'. Her towering father, ex-Cazenove Capital director Lord Latymer's face was an absolute picture.

Naughty rogue trader Nick Leeson is selling replica jackets based on the garish, navy and yellow striped design of his now notorious Barings trading blazer. Shameless stuff, but all money in the bank I suppose. Leeson's actual blazer was bought at auction in 2007 for £21,000. The cash went to Barings' creditors.